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On Friday, soybeans experienced midday losses ranging from 10 to 12 cents, with the cmdtyView national average Cash Bean price down 11.5 cents at $10.37 1/4. Soymeal futures fell by $1.50 to $2.80, while Soy Oil futures remained steady to up by 6 points. A total of 78 deliveries were issued against December bean oil overnight.
The USDA reported a private export sale of 462,000 MT of soybeans to China, bringing the total known sales to 2.845 MMT for the marketing year. The backlog of USDA Export Sales reports will include data for the week ending November 6 on Monday, with soybean bookings projected between 0.45-1.6 MMT.
Additionally, Brazil’s trade ministry announced the export of 4.2 MMT of soybeans in November, reflecting a 37.62% decrease from the previous month but an increase of 64.4% compared to the same month last year.
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